The key feature of an oligopolistic market is that select one: a. a single firm chooses a point on the market demand curve. b. each firm produces a different product from other firms. c. a small number of firms are acting strategically. d. each firm takes the market price as given.

c. a small number of firms are acting strategically.

Explanation:

The Firms in oligopoly can influence market outcome and thus they act strategically to achieve the expected outcome.

(a) when insurance is obtained through a reciprocal insurer, the insureds are sharing the risk of loss with other subscribers of that reciprocal.

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